Apple shares remain cheap, pro says

Apple shares closed higher Friday, the first day its 7-for-1 stock split was in effect, and the pros are already speculating about when the stock will hit $100.

GVA Research's David Garrity said it will likely happen before the iPhone 6 launch, expected in September.

"The iPhone 6 launch is a big retail event and splitting the stock obviously makes it more within reach of the retail investor … You could get a pop in the stock and pay for your iPhone at the same time," he said in an interview with CNBC's "Closing Bell."